NIFTY OUTLOOK (8th November, 2012)

NIFTY UP: BULLS COME BACK ???

The NSE Nifty spot closed at 5757 up by 0.60% with the positive mood. The index is traded in with the gap up and sustain, gap can be seen before 3 trading sessions. There is a negative diversion in Stochastic indicator which can lead to some correction. But on the other hand, MACD is making a fresh cut for upward move which is favorable for long position holders. Nifty spot can be seen nearer to 6000 level in very near future.

Happy Trading !!

Megha Investments & Research Team

 

NIFTY OUTLOOK (7th November, 2012)

NIFTY AGAIN IN ITS RANGES, OPPPS AGAIN NEGATIVE DIVERSION IN INDICATORS!!!

The NSE Nifty spot closed at 5724 up by marginal volatility. The index closed with the positive movement but with the negative diversion in the lower indicators. This may result in to somewhere profit booking in the major stocks of index especially in banking and finance stocks. MACD is trying to cut upside which is positive factor for long position holders of nifty future. On the other hand, short-medium-long term averages are giving support on the daily basis. Stochastic has reached in overbought situation at 93.18 which may result in to some correction in coming trading sessions. Beware before making long position in nifty future for 2-3 days.

Happy Trading !!

Megha Investments & Research Team